BUGAL ATRIA LENN V.

GRADE 12- LUCA PACIOLI

FUNDAMENTALS OF ACCOUNTANCY, BUSINESS MANAGEMENT

Activity 7 – Copy and Check your Answer

RECONCILING ITEMS ADD TO DEDUC ADD TO DEDUCT

BOOK T BANK FROM- BANK
FROM-
BOOK

1. Junior Company had a receipt

of Ᵽ 100,000 and correctly
prepared its bank deposit slip for
Ᵽ 100,000. However, the
company recorded the receipt in
its Cash account as Ᵽ 101,000.
How is the difference of Ᵽ1,000
handled on the bank
reconciliation? ✔
2. Espanola Company wrote a
check worth Ᵽ 46,000, and it
cleared the bank for Ᵽ 46,000.
However, the company recorded
the receipt in its Cash account as ✔
Ᵽ64,000. How is the difference of
Ᵽ 18,000 handled on the bank
reconciliation?

3. Bank erroneously posted

another company’s Credit memo
to Minion Company bank account
✔
4. Bank inadvertently charged
Gerardo Pogi Company s bank
account for another Company s
✔
bank fees
5. Bank service
charge ✔
6. Deposit in transit ✔
7. The fee charged by the
for a returned check bank ✔
8. Interest credited to the
account bank ✔
9. Outstanding checks ✔
10. The bank collected a Note
Receivable for the GERARDO
THE GREAT Corporation and
Credited the company s bank ✔
account for Ᵽ1,000,00